RingCentral Inc. (NYSE:RNG) saw a downside of -1.79% to close Tuesday at $28.01 after subtracting -$0.51 on the day. The 5-day average trading volume is 1,711,620 shares of the company’s common stock. It has gained $29.98 in the past week and touched a new high 1 time within the past 5 days. An average of 1,746,085 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,387,660.
RNG’s 1-month performance is -29.78% or -$13.56 on its low of $27.51 reached on 08/17/23. The company’s shares have touched a 52-week low of $25.32 and high of $49.32, with the stock’s rally to the 52-week high happening on 02/15/23. YTD, RNG has lost -20.88% or -$7.39 and has reached a new high 8 times. However, the current price is down -43.21% from the 52-week high price.
Insider Transactions
RNG stock investors last saw insider trading activity on Aug 22.Agarwal Vaibhav (Deputy Chief Financial Officer) most recently sold 5,434 shares at $28.73 per share on Aug 22. This transaction cost the insider $156,097. Chief Financial Officer, Parekh Sonalee Elizabeth, sold 1,852 shares at a price of $29.73 on Aug 16. Then, on Aug 16, Deputy Chief Financial Officer Agarwal Vaibhav sold 1,690 shares at a price of $29.66 per share. This transaction amounted to $50,117.
Valuation Metrics
RNG stock has a beta of 0.95. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.24 while the price to cash flow ratio at 13.24.
RingCentral Inc.’s quick ratio for the period ended June 29 was 1.40, with the current ratio over the same period at 1.40.. In terms of profitability, the gross margin trailing 12 months is 69.00%. The trailing 12-month EBITDA margin is -5.00% while for the period ending June 29, RingCentral Inc.’s operating margin was -24.00%. The firm’s gross profit as reported stood at $1.35 billion against revenue of $1.99 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -642.64% to -$21.48 million, while revenue of -$54.4 million was -153.26% off the previous quarter. Analysts expected RNG to announce $0.75 per share in earnings in its latest quarter, but it posted $0.83, representing a 10.70% surprise. EBITDA for the quarter stood at more than $47.2 million. RNG stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 2.43 billion, with total debt at $1.61 billion. Shareholders hold equity totaling $94.69 million.
Let’s look briefly at RingCentral Inc. (RNG) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 August was 24.44% to suggest the stock is trending oversold, with historical volatility in this time period at 39.32%.
The stock’s 5-day moving average is $28.62, reflecting a -6.45% or -$1.93 change from its current price. RNG is currently trading -28.69% above its 20-day SMA, -4.50% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -14.99% and SMA200 by-17.54%.
Stochastic %K and %D was 7.87% and 8.11% and the average true range (ATR) pointed at 1.60. The RSI (14) points at 30.53%, while the 14-day stochastic is at 4.05% with the period’s ATR at 1.67. The stock’s 9-day MACD Oscillator is pointing at -0.88 and -3.09 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for RingCentral Inc. (NYSE: RNG), Morgan Stanley downgraded it to an Equal-weight rating. They previously had an Overweight rating on the stock.
